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Nairaland Forum / Nairaland / General / Business / CBN To Unveil Naira-Yuan Swap Deal Operational Framework Next Week (16232 Views)
ECOWAS Set To Unveil Single Currency ECO / Motopay: Sujimoto To Unveil Africa's Largest All-in-one Digital Bank / The Naira/yuan Swap Deal (update) (2) (3) (4)
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CBN To Unveil Naira-Yuan Swap Deal Operational Framework Next Week by FriendNG: 1:23am On May 23, 2018 |
Standard Charted Bank AND STanbic IBTC Bank have been chosen as settlement Banks. Stanbic Bank has an affiliate bank in China which is " ICBC (Industrial and Commercial Bank Of China) " For more watch the video below from 5:50 mins. https://www.youtube.com/watch?v=lQYTm7r8ZQ8 1 Like 1 Share |
Re: CBN To Unveil Naira-Yuan Swap Deal Operational Framework Next Week by chukxie(m): 3:11am On May 23, 2018 |
FriendNG: ICBC ~ Industrial and Commercial Bank of China. 1 Like |
Re: CBN To Unveil Naira-Yuan Swap Deal Operational Framework Next Week by FriendNG: 4:33am On May 23, 2018 |
Buhari is also an economics. The china Nigeria swap deal is a welcome development. Well I have sighted mynd44 here this this early morning (4:28 a.m) either looking for someone to ban or looking for duplicated thread to close. Or just maybe mynd is doing sahur now who knows. 13 Likes 4 Shares |
Re: CBN To Unveil Naira-Yuan Swap Deal Operational Framework Next Week by CTechHub(m): 6:32am On May 23, 2018 |
Good news. can't wait to buy goods at cheaper rate 5 Likes 1 Share |
Re: CBN To Unveil Naira-Yuan Swap Deal Operational Framework Next Week by DAVEZONIGLTD: 10:30am On May 23, 2018 |
God bless Nigeria. 4 Likes 2 Shares |
Re: CBN To Unveil Naira-Yuan Swap Deal Operational Framework Next Week by Riogeese(m): 10:31am On May 23, 2018 |
2 Likes |
Re: CBN To Unveil Naira-Yuan Swap Deal Operational Framework Next Week by merits(m): 10:33am On May 23, 2018 |
i hope it works 5 Likes 1 Share |
Re: CBN To Unveil Naira-Yuan Swap Deal Operational Framework Next Week by pjecly: 10:33am On May 23, 2018 |
space booked I think is a right direction to relieve the excess demand for dollar |
Re: CBN To Unveil Naira-Yuan Swap Deal Operational Framework Next Week by SamuelAnyawu(m): 10:33am On May 23, 2018 |
Re: CBN To Unveil Naira-Yuan Swap Deal Operational Framework Next Week by uloewa: 10:34am On May 23, 2018 |
I am waiting to see that chinese exporter that will give his invoice in yuan! Too early to celebrate 1 Like |
Re: CBN To Unveil Naira-Yuan Swap Deal Operational Framework Next Week by monaPhilz: 10:34am On May 23, 2018 |
Welcome development |
Re: CBN To Unveil Naira-Yuan Swap Deal Operational Framework Next Week by ayoadekunle79(m): 10:34am On May 23, 2018 |
atleast buhari travel china is fruitful dis tym around
pdp how market ,,, and hope the exchange rate will not be much sha buhari till 2023 9 Likes 2 Shares |
Re: CBN To Unveil Naira-Yuan Swap Deal Operational Framework Next Week by EPIJOE: 10:34am On May 23, 2018 |
[b]FIRST EVER BRILLIANT MOVE FOR THE DULLARD SINCE IN GOVT 2 Likes |
Re: CBN To Unveil Naira-Yuan Swap Deal Operational Framework Next Week by veacea: 10:34am On May 23, 2018 |
Correct |
Re: CBN To Unveil Naira-Yuan Swap Deal Operational Framework Next Week by Nobody: 10:34am On May 23, 2018 |
Let's see it work first before celebration because this Buhari Administration is full of lies and can do anything to get cheap political points. I don't trust lie Muhammed. 2. If it is true, let's see how they will manage it in a way that it won't turn other way round just like they turn Nigerian economy the other way round in the name of repairing it. Most of them are bunch of illiterate who want to be in position by force. May all enemies of this country never see joy at the end of their life. Amen 1 Like |
Re: CBN To Unveil Naira-Yuan Swap Deal Operational Framework Next Week by chisure: 10:35am On May 23, 2018 |
Nigerians and their awkward way of doing things. Why not try DOLLAR 1 Like 1 Share |
Re: CBN To Unveil Naira-Yuan Swap Deal Operational Framework Next Week by Nobody: 10:35am On May 23, 2018 |
monaPhilz: A very good one. |
Re: CBN To Unveil Naira-Yuan Swap Deal Operational Framework Next Week by pawesome(m): 10:36am On May 23, 2018 |
ayoadekunle79:the other countries wey him dn go nkoh?....buhari went to China during his first year...now its almost 4 before a deal was signed...how long will it take to start working that is if it ever will 1 Like |
Re: CBN To Unveil Naira-Yuan Swap Deal Operational Framework Next Week by ribbit: 10:37am On May 23, 2018 |
niceeeeee thank goodness I have Stanbic account. |
Re: CBN To Unveil Naira-Yuan Swap Deal Operational Framework Next Week by Chibuzoc(m): 10:37am On May 23, 2018 |
Some importers like me will benefit from this 1 Like |
Re: CBN To Unveil Naira-Yuan Swap Deal Operational Framework Next Week by pawesome(m): 10:37am On May 23, 2018 |
uloewa:very early |
Re: CBN To Unveil Naira-Yuan Swap Deal Operational Framework Next Week by Bustincole(m): 10:37am On May 23, 2018 |
I hope dey swap wit sense just sayin 2 Likes
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Re: CBN To Unveil Naira-Yuan Swap Deal Operational Framework Next Week by Fuadeiza(m): 10:38am On May 23, 2018 |
Explanation to me please, how this would help? I'm not an ecomomist 1 Like |
Re: CBN To Unveil Naira-Yuan Swap Deal Operational Framework Next Week by PassingShot(m): 10:38am On May 23, 2018 |
[s] pawesome:[/s] 2 Likes |
Re: CBN To Unveil Naira-Yuan Swap Deal Operational Framework Next Week by mamaafrik(m): 10:39am On May 23, 2018 |
people with better knowledge About this subject ,can you people explain the pros and cos of this deal. |
Re: CBN To Unveil Naira-Yuan Swap Deal Operational Framework Next Week by IJOBA2: 10:39am On May 23, 2018 |
ayoadekunle79:I TIRE FOR YORUBA MUSLIMS 1 Like |
Re: CBN To Unveil Naira-Yuan Swap Deal Operational Framework Next Week by dryakson(m): 10:47am On May 23, 2018 |
mamaafrik:IN CASE YOU DON'T UNDERSTAND I know Most of You don't know the meaning of Nigeria naira/yuan swap with China.. And why American government is desperately smoothing their relationship with Nigeria. This is a clearer picture of the deal and it's effects on our economy and way of life. Soon, you may be buying that techno phone you bought at N80,000 for N12, 000 . The Central Bank of Nigeria have finally signed the currency swap deal we have been expecting for the past 2 years with the Chinese government. The importance of this is that since almost 70% of the goods we import come from China and Asia and only about a meagre 12% come from America, why must we use Dollars to transact with China? Thus, with the new deal, instead of using dollars at N350 to 1dollar to import those goods, we can now buy Yuan at 47 naira to 1 Yuan and import those stuffs directly. Therefore, Instead of buying these goods in dollars in China, we will now buy them in Yuan at 5 times cheaper than their dollar rates. Meanwhile, it should be noted that China is now the highest importer of our crude. This means that our trade with them can be on Naira/Yuan basis. This is a giant stride that our media needs to disseminate. It's a great achievement by this administration in its effort at repositioning our economy. This may be a reason why our past selfish leaders may not want Buhari to continue in office to protect their families who are beneficiaries of high forex rate. Of course, with d new deal, d demand for dollars will nose dive, with an attendant crash in its price. From tomorrow, try to monitor exchange rate. Some of those guys who hoarded foreign currencies to make gains will off load them in order not to have heart attack over their huge loss arising from the currency swap deal with china. Dollars and pounds will flood everywhere with no buyers, as the buyers will draw naira from their accounts in banks with presence in China. Many NIGERIA banks will be seeking to have their representative office in China like first bank who saw to the future and already have office in China. Inflation will go down drastically because of the price of commodities that will drop. 33 Likes 2 Shares |
Re: CBN To Unveil Naira-Yuan Swap Deal Operational Framework Next Week by ritababe(f): 10:54am On May 23, 2018 |
dryakson: I hope this is true, can't wait. 2 Likes |
Re: CBN To Unveil Naira-Yuan Swap Deal Operational Framework Next Week by docadams: 10:56am On May 23, 2018 |
FriendNG: For once, something good has come out of Stanbic Bank IBTC. Now I have something to use my account for. |
Re: CBN To Unveil Naira-Yuan Swap Deal Operational Framework Next Week by Gucciboss: 10:57am On May 23, 2018 |
dryakson: Mr copy and paste, why can't you just at least go through what you copied? Buy techno of 80k with 12k? Are you for real? China the highest importer of Nigerian crude, any data to back it up? As of January, India remains the highest importer of Nigerian crude oil. Nigeria Import from China is 17% as of 2017. Don't tell me that it jumped to 70% in one year Stop lies and misinformation. 3 Likes |
Re: CBN To Unveil Naira-Yuan Swap Deal Operational Framework Next Week by Gucciboss: 11:04am On May 23, 2018 |
ritababe: Please disregard the copy and paste man! Just make your research by yourself. |
Re: CBN To Unveil Naira-Yuan Swap Deal Operational Framework Next Week by naijaboiy: 11:07am On May 23, 2018 |
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